Financial Literacy, Financial Socialization and Financial Behavior of Farmers Engaged in Commercial Agribusiness in Nakaseke District.

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dc.contributor.authorNassaka Jackie
dc.date.accessioned2026-07-08T08:33:50Z
dc.date.available2026-07-08T08:33:50Z
dc.date.issued2025-11-05
dc.descriptionThis Is A Master's Dissertation Submitted To Makerere University Business School (Faculty Of Graduate Studies And Research) In Partial Fulfillment Of The Requirements For The Award Of The Degree Of Master Of Business Administration Of Makerere University.
dc.description.abstractThis study investigated the influence of financial literacy and financial socialization and financial behavior among farmers engaged in commercial agribusiness in Nakaseke District, Uganda. The study was motivated by the persistent challenge of poor financial decision-making and limited formal financial engagement among rural farmers, despite growing efforts to promote agricultural commercialization. The research specifically aimed to (i) establish the relationship between financial literacy and financial behavior, (ii) assess the relationship between financial socialization and financial behavior, and (iii) examine the mediating effect of financial socialization in the relationship between financial literacy and financial behavior. The study adopted a cross-sectional survey design and employed a quantitative approach to capture data from a sample of 278 farmers, drawn from an initial target population of 1,000, using proportionate random sampling. A structured questionnaire designed around a five-point Likert scale was used to collect primary data on the study variables. Correlation analysis revealed a strong positive relationship between financial literacy and financial behavior (r = .552, p < .01), with individual components such as knowledge of concepts (r = .722) and awareness of financial products (r = .342) showing significant contributions. Financial socialization also showed a positive relationship with financial behavior (r = .472, p < .01), particularly through community networks (r = .558). Multiple regression results confirmed that both financial literacy (β = 0.452, p < .001) and financial socialization (β = 0.338, p < .001) significantly predicted financial behavior, with the model explaining 40.9 percent of the variance (R² = .409). Mediation analysis using the Sobel test confirmed that financial socialization partially mediates the relationship between financial literacy and financial behavior (z = 3.83, p < .001), accounting for 18.1 percent of the total effect. The study recommends the integration of financial literacy training into informal community based platforms to ensure relevance and sustainability. It also encourages the use of local role models and storytelling sessions to enhance financial socialization in rural settings. These strategies aim to bridge the gap between financial knowledge and practical behavior, enabling farmers to make informed financial decisions and strengthen their participation in the agribusiness economy.
dc.description.sponsorshipDr. David Nyamuyonjo, (Makerere University Business School) & Mr. Freddie Semukono, (Makerere University Business School)
dc.identifier.citationNassaka, J. (2025). Financial Literacy, Financial Socialization and Financial Behavior of Farmers Engaged in Commercial Agribusiness in Nakaseke District. (unpublished master's dissertation). Makerere University Business School, Kampala, Uganda.
dc.identifier.urihttp://hdl.handle.net/20.500.12282/5693
dc.language.isoen
dc.publisherMakerere University Business School
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 United Statesen
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/us/
dc.titleFinancial Literacy, Financial Socialization and Financial Behavior of Farmers Engaged in Commercial Agribusiness in Nakaseke District.
dc.typeThesis
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